Question
Janet's savings account balance is $354.20 today. She opened the account exactly 3 years ago with a single deposit. Janet has made no other deposits
Janet's savings account balance is $354.20 today. She opened the account exactly 3 years ago with a single deposit. Janet has made no other deposits and no withdrawals. The account earns a 0.25% annual percentage rate of interest, compounded daily. What was Janet's initial deposit?
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Introduction To Mathematical Finance Discrete Time Models
Authors: Stanley R. Pliska
1st Edition
1557869456, 9781557869456
